Tom Hayes (Tipperary South, Fine Gael)

He is a risk taker. He cannot get credit because there is a black mark against him. That is wrong and unfair. The Government's claim to want to help businesses is only bluff when it can turn its back on such an individual. We need risk takers in this economy. We need people who will invest their money in setting up businesses. We need people who have paid their way during times of hardship and difficulties. This is one instance where an individual cannot get access to credit. There are many more such people, and there will be many more of them. When these risk takers have cleared their debts, they should be allowed back into the system. It is wrong that they are not allowed back in. I do not care they have had such a difficulty because they have tried to be successful. Nobody tries to fail in this world. The economic climate in Ireland has caused many good businesses to face financial difficulties. I urge that changes be made to address those two issues, particularly when the banking system is being re-organised.

It is unclear how the asset management agency will seek payment from builders and purchase tracks of land, etc. A long-term view needs to be taken of the land that will be bought and the value of the assets to be purchased. In the current market nobody can forecast the value of an asset because of the economic depression. It cannot be stated that land is worth this or that value. In 1989, 43 acres of land were for sale for €68,000. The land was not sold and an offer of €1.2 million was made for that land two years ago. The man that owned the land was sticky and plucky in difficult economic times and he was able to hold on to his land at that time. He is now a successful developer and builder. Nobody can forecast the value of an asset at any one time. Those are the points I wanted to make concerning the banking sector.

I also wish to address the great number of people who have become unemployed. It is the most crucial issue with which the Government must get to grips. The figures are stark, people have mentioned the figure of 500,000, but the number could be closer to 600,000. This is a major issue and it needs to be addressed. They are the people we need to help.

See this speech in context